Maithan Alloys acquired a 0.06% stake in ESDS Software Solution Limited through the stock exchange on September 9, 2026. The company purchased 75,160 equity shares for a total consideration of ₹10.83 crore, marking a routine investment move rather than a strategic acquisition of control.

The transaction was disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Maithan Alloys confirmed that the acquisition does not involve any related-party transactions and that the promoter group holds no interest in the target entity. The deal was executed at arm's length with cash consideration.

Investment Rationale

The company stated that the shares form part of its investment portfolio aimed at reaping long-term or short-term benefits. Maithan Alloys explicitly clarified that it does not intend to acquire control, whether directly or indirectly, over the management of ESDS Software Solution Limited.

Target Company Profile

ESDS Software Solution Limited operates in the IT-enabled services sector, providing AI-enabled end-to-end IT infrastructure solutions. Its offerings include data center, cloud, colocation, and managed services for governments, PSUs, BFSI institutions, and enterprises.

Financial data for ESDS Software as of March 31, 2026, indicates a turnover of ₹378 crore and a net profit after tax (PAT) of ₹62 crore. The company’s net worth stood at ₹520 crore.

Revenue Trend

ESDS Software has shown consistent revenue growth over the past three fiscal years. Turnover rose from ₹281 crore in FY24 to ₹357 crore in FY25, before reaching ₹378 crore in FY26. This trajectory reflects steady expansion in its IT infrastructure business.

What the Numbers Show

The acquisition cost of ₹10.83 crore for 75,160 shares implies an average purchase price of approximately ₹144.15 per share. Given ESDS Software’s reported PAT of ₹62 crore for FY26, this stake represents a minor financial exposure relative to the target’s earnings capacity, aligning with Maithan Alloys’ stated objective of portfolio diversification rather than operational integration.

Maithan Alloys has scheduled its 41st Annual General Meeting for September 28, 2026. The meeting will convene via video conferencing to address ordinary and special business items, including the declaration of dividends and significant board appointments.

The company seeks shareholder approval for a final dividend of ₹6 per equity share for FY26. This follows an interim dividend of ₹11 per share already paid during the financial year. The record date for determining dividend entitlement is set for September 21, 2026.

Board Appointments and Designations

The agenda includes substantial changes to the board composition and executive designations:

• Re-appointment of Mr. Naresh Kumar Jain, Mr. Aayush Khetawat, and Mrs. Sonal Choubey as Independent Directors for five-year terms.
• Appointment of Mr. Chandra Prakash Kakarania and Dr. Ridhi Agarwala as new Independent Directors.
• Change in designation of Mr. Subhas Chandra Agarwalla from Chairman and Managing Director to Executive Chairman, effective October 1, 2026.
• Change in designation of Mr. Subodh Agarwalla from Whole-time Director and Chief Executive Officer to Managing Director & Chief Executive Officer, effective October 1, 2026.

Mr. Subodh Agarwalla retires by rotation but offers himself for re-appointment as a director.

Related Party Transactions

Shareholders will vote on material related-party transactions with subsidiary Maithan Ferrous Private Limited (MFPL). The proposed aggregate transaction limits are:

These transactions involve the purchase and sale of ferro alloys, raw materials, trade advances, employee secondment, and loans. The company holds an 80% stake in MFPL.

Other Resolutions

The meeting will also address the following special business items:

• Increase in statutory auditor remuneration for M/s. Singhi & Co., raising the fee for standalone and consolidated audit from ₹21.50 lakh to ₹25.00 lakh per year.
• Ratification of cost auditor remuneration at ₹60,000 plus tax.
• Alteration of the Memorandum of Association to include investment activities in capital markets as a main object.
• Alteration of the Articles of Association to remove provisions relating to the common seal.